Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) Stock Price Down 0.1% - Here's What Happened

Key Points

• Nuveen New York Select Tax-Free Income Portfolio shares traded down 0.1%, with the last price at $12.03 and a significant decrease in trading volume by 55% compared to the average.
• The company declared a monthly dividend of $0.042, payable on November 3rd, which equates to an annualized yield of 4.2%.
• Several institutional investors, including Opal Wealth Advisors and Guggenheim Capital, significantly increased their stakes in the portfolio during the first and second quarters of the year.

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN - ) shares traded down 0.1% on Thursday . The company traded as low as $11.98 and last traded at $12.03. 6,674 shares changed hands during trading, a decline of 55% from the average session volume of 14,932 shares. The stock had previously closed at $12.04.

Nuveen New York Select Tax-Free Income Portfolio Trading Down 0.1%

The stock has a fifty day moving average price of $11.83 and a two-hundred day moving average price of $11.63.

Nuveen New York Select Tax-Free Income Portfolio Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a $0.042 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new position in Nuveen New York Select Tax-Free Income Portfolio in the first quarter valued at about $107,000. OMNI 360 Wealth Inc. raised its stake in Nuveen New York Select Tax-Free Income Portfolio by 20.0% in the first quarter. OMNI 360 Wealth Inc. now owns 15,000 shares of the company's stock valued at $177,000 after purchasing an additional 2,500 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Nuveen New York Select Tax-Free Income Portfolio in the first quarter valued at about $230,000. Finally, Guggenheim Capital LLC raised its stake in Nuveen New York Select Tax-Free Income Portfolio by 20.1% in the second quarter. Guggenheim Capital LLC now owns 76,674 shares of the company's stock valued at $892,000 after purchasing an additional 12,839 shares in the last quarter.

Nuveen New York Select Tax-Free Income Portfolio Company Profile

Nuveen New York Select Tax-Free Income Portfolio is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in the securities of companies that operate across diversified sectors.

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